LONDON – Bracewell LLP is serving as counsel toThe Carlyle Group (Carlyle) and CVC Capital Partners Fund VI (CVC) in relation to the debt financing aspects of Neptune Energy Group’s (Neptune) acquisition of a majority stake in ENGIE E&P International S.A. (EPI) for $3.9 billion.

EPI is a large global E&P business focused on North West Europe and with operations in North Africa and South East Asia. The EPI business that would be acquired by Neptune includes significant North Sea operations in Norway, the Netherlands and the UK, as well as onshore Germany and Indonesia. In all, EPI operates some sixty producing oil and gas fields. It also includes the large Touat gas development underway in Algeria, where ENGIE would retain a substantial interest alongside Neptune.

Neptune, led by former Centrica CEO Sam Laidlaw, was launched in June 2015 to focus on investing in large oil and gas portfolios that may come available as a result of energy market dynamics.

The transaction is expected to be completed by early the first quarter of 2018.